Universal Life Insurance


Universal Life Insurance

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Help provide financial security for you and your loved ones with life insurance that grows in value over time.

Universal life insurance provides flexible, permanent coverage that allows you to make adjustments to your coverage—without starting a new policy—as your needs change.


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What is universal life insurance?

With a universal life insurance policy:

  • You're covered as long as you pay the premium required to keep the policy active, or “in force”
  • Your account accumulates cash value over time, earning interest
  • A death benefit is paid out to your beneficiaries.

Universal life is permanent insurance, which means the policy doesn’t expire like term life insurance. It’s also more flexible, allowing you to adjust your premium and your death benefit—something you can’t do with a whole life insurance policy.

Who should buy universal life insurance?

Anyone who has someone depending on them financially is a candidate for life insurance. A universal life insurance policy may appeal to you if:

  • You want the freedom to make adjustments to your life insurance without having to switch policies
  • You want life insurance you cannot outlive
  • You want to use cash value to supplement retirement and savings accounts.

What does "cash value" mean?

Your universal life insurance policy can accumulate cash value in an account. This cash value can be accessed for financial help during emergencies, or to supplement retirement income.

You can borrow money against your policy’s cash value if you need extra cash. Or you can cancel your life insurance policy and withdraw the cash value. If your policy is still active when you die, your beneficiaries receive the death benefit payment.

How are universal life insurance benefits paid?

Most people choose a lump sum payment where the beneficiary receives a single payment after the insured has passed away and a claim is filed. Other options may be available—speak to your life insurance agent to learn more.

What types of universal life insurance are available?

AAA Life Insurance Company offers two types of universal life insurance. Speak to a licensed AAA Life professional to learn more.

Accumulator Universal Life

This policy earns a current interest rate that can never be lower than the minimum guaranteed interest rate listed in the policy.

LifeTime Universal Life

With a no-lapse guarantee, you'll have life insurance coverage as long as you keep paying your premium on time, even if your cash value drops to zero.

Why buy universal life insurance through AAA?

AAA offers affordable life insurance backed by 50 years of experience helping to protect people’s futures. By purchasing your policy from AAA Life, you’ll enjoy benefits such as:

  • Your choice between LifeTime Universal Life or Accumulator Universal Life. AAA Life’s LifeTime policies offer premiums that won’t increase. Meanwhile, Accumulator coverage helps you build even more cash value to cover retirement and final expenses.
  • Great rates and features. Competitive premiums and customizable options available to meet your needs.
  • Excellent customer service from knowledgable life insurance agents.
  • Efficient claims process for your loved ones.
  • AAA Member savings: AAA Members save up to 5 percent on their AAA Auto Insurance policy.

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Health history, underwriting guidelines and the answers provided to health questions are used to determine approval for coverage. Not all applicants will qualify. Rates may vary.  Life insurance underwritten by AAA Life Insurance Company, Livonia, MI. AAA Life Insurance Company is licensed in all states except NY. CA Certificate of Authority #07861. Products and their features may not be available in all states. Insurance products in California offered through AAA Northern California Insurance Agency, License #0175868, in Nevada by AAA Nevada, in Utah by AAA Utah, in Arizona through AAA Arizona, Inc., License #8301727, and in Wyoming through AAA Mountain West Inc., License No. 172603. The provider of AAA Auto and Home Insurance is CSAA Insurance Group, a AAA Insurer. All policies are subject to policy terms, underwriting, guidelines and applicable laws. Multi-policy and other discounts vary based upon eligibility. Discounts not cumulative; certain restrictions apply.

Lifetime Universal Life Insurance Policy Form Series: ICC19-4701/4701 (In OR: ICC19-4701)

If insured is diagnosed with a terminal illness that will cause death in 12 mos. or less, up to 50% of the total benefit can be applied for, and used as insured chooses. The remaining benefit payable at death will be reduced by the Accelerated Death Benefit paid and any accrued and unpaid interest (7% annual interest rate applies). Receipt of Accelerated Death Benefits may affect eligibility for public assistance programs and may be taxable. Please consult the appropriate social service agency and seek the advice of tax counsel before applying for these funds. The Accelerated Death Benefit is not available if the terminal illness results from an intentionally self-inflicted injury. This benefit may not be available in all states.

Accumulator Universal Life Insurance Policy Form Series: ICC19-3701/3701 (In OR: ICC19-3701)

If insured is diagnosed with a terminal illness that will cause death in 12 mos. or less, up to 50% of the total benefit can be applied for, and used as insured chooses. The remaining benefit payable at death will be reduced by the Accelerated Death Benefit paid and any accrued and unpaid interest (5% annual interest rate applies). Receipt of Accelerated Death Benefits may affect eligibility for public assistance programs and may be taxable. Please consult the appropriate social service agency and seek the advice of tax counsel before applying for these funds. The Accelerated Death Benefit is not available if the terminal illness results from an intentionally self-inflicted injury. This benefit may not be available in all states.

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